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Relocating ?
Relocating? Do you desire to buy a new or second home to escape the cold weather four to six months of each year? If you answered yes to these questions, relocation can be a hair-raising experience. A roller coaster of emotions from choosing the right agent, to finding the right place at the right price and terms, to securing the loan if need be, to moving in. To make matters worse, there is much misinformation and disingenuous people in real estate. For example, there is an old saying in Florida, “If you live in Florida and do not know a friend in the real estate business you don’t have any friends!” It seems as though everybody and their brother (or sister!) is an agent or has a relative who is one!
It makes sense to become completely informed before relocating or buying your new or second home or condominium. The right real estate professional who specializes in exclusive buyer representation can help you make good sound decisions.
1. Choose The Right Agent - An Exclusive Buyer Broker - When looking for new or resale homes and condominiums, you need an advocate for you, protecting your interests in the home search. Using an exclusive buyer broker to help you is just like using a credit card to make a purchase. It does not cost you any more and it gives you added protection for that purchase. Most consumers do not realize that all merchants pay a “commission” to their bank for all credit card transactions. It is a cost of doing business. It is just the same using an exclusive buyer broker - the fee is part of the listing commission the seller pays to sell a home through their Realtor®. Trying to go it alone by buying directly from the developer, builder, or the agent and company whose sign is in the yard will not save you money. It gives you no representation (meaning no one is protecting you), and may end up costing you much in terms of time and money! The only thing you invest with an exclusive buyer broker is your time! Would you defend yourself in court without an attorney? Why, then, make one of the most important financial transaction in your life, without someone on your side protecting you, especially when it’s at no additional charge to you!
2. Inspect, and Re-inspect - Go over the property inspection report with a fine tooth comb. Do not be afraid to re-negotiate if necessary, and do not be afraid to back out of the deal if there are significant problems the seller or builder will not correct. Make sure a professional inspector who belongs to a national inspection organization, such as NAHI or ASHI performs the inspection, and ask for references. For condo purchases be sure to review the by-laws and association fees before the closing. Do not take anything for granted inspect everything!
3. Imagine The Property Vacant - Do not be dazzled by beautiful furniture and decorating…it leaves with the owner. Conversely, a vacant home or condo will appear bigger than it is. Be sure your furnishings will fit the new floor plan. Take measurements of your furniture before going on your first showings.
4. View Several Homes and/or Condos - See at least 4 to 8 properties. Ask your agent for all available appraisal (historical) data, as well as data on all competing (available) properties. Remember that your exclusive buyer broker will show you all available properties.
5. Use Your Team - By aligning yourself with exclusive buyer broker you will have an entire team at your disposal. Use your lender, home inspector, insurance agent, and real estate attorney. Each of them should work hand in hand exclusively for your benefit.
6. Be A Detective - Check out all costs and expenses before you sign, including utilities, taxes, and insurance, maintenance, condominium and homeowner dues if applicable. Make sure all utilities are on (gas, water, and electricity) so you can inspect everything in working order. Ask many questions and be very detail conscious.
7. Do A Final Walk Through - Visit the property after all furnishings and belongings have been removed. Be sure there are no surprises (if possible before closing). Be positive the property is left exactly as you had agreed upon in the contract. Often times, things are overlooked that could have been spotted in the final walk through. Your contract should specify your right to a final walk through just before the actual closing, typically within 48 hours.
8. If It Is Not In Writing, It Does Not Exist - All promises and discussions are to be in writing. Do not make any assumptions or believe any assurances. Even the best intentions may be misinterpreted. Ask your exclusive buyer broker if he/she keeps an ongoing log, in writing, of all significant discussions, and get the seller’s written approval for all agreements, changes, and addenda. Be open, honest and up front with your team. You can be assured they are on your side, not the sellers, if the brokerage only represents buyers exclusively.
According to the Consumer Federation of America,
when interviewing real estate agents or buyer brokers to buy a home,
“Make certain at least one is a Buyer Broker that works exclusively with buyers.”
The CFA recommends asking the following seven important questions:
1. Will you (the agent) represent my interests only or those of the seller?
2. Do you or your brokerage represent any sellers or builders?
3. Do you have full access to the Multiple Listing Service?
4. Will you show me for sale by owner properties?
5. Can you give me the names of several current and former clients?
6. What experience do you have as an agent and Buyer-Broker? What other designations or credentials do you have?
7. Does your commission amount vary? What about bonuses, inducements, or rebates (kickbacks)? Do you give them back to me the buyer? (After all, the buyer is paying for it!)
No matter where you are moving to nationwide, please contact our office.
There is never any cost for our relocation or referral service!
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